Answer: there’s nothing ‘magic’ about the magic number. It is merely a unique number associated to a particular trade logged by your computer system or trading EA. It allows 31/03/ · Magic number is intended to be used for trade identification. Implementation varies. It is set when the trade is opened by an EA with the OrderSend() command. Example A magic number is an identifier for the orders. Basically, when you open an order in MetaTrader 4 using MQL4 code, you can associate the order to a number. The same magic number can 02/12/ · Magic number Forex - The Expert Advisors is a free lecture from Algorithmic day trading – Top 10 USDJPY Expert Advisors. Enroll here: https://eaforexacademy 11/10/ · A magic number is used to identify a trade. When a trade is opened by an Expert Advisor, a magic number can be associated with the trade. The MQL function used to open a ... read more
Here is an MQL code sample:. Incidentally, this same technique is used to get just about any information about a trade: stoploss, takeprofit, open time, open price, etc. Also, the trade history of an account can be queried in the same way.
You can get all of the same information about closed trades. You can do this using basic if-then logic:. In VTS, an input variable named MagicNumber is created with every system.
See this link for an example of the EA input window and the VTS Input Manager window. Here is an image of the magic parameter on the VTS fnOpenOrder function configuration. Note, it is on the advanced tab:. Since you can set the magic parameter on the VTS fnOpenOrder function to any value, not just the MagicNumber variable, the capability to utilize a magic number within VTS is very flexible.
You may have noticed the comment parameter. The comment parameter of OrderSend is used to add a text comment to a trade.
Note: you have to be careful if you want to use the comment value to identify a trade because the value can be change by the broker. Actually, it is changed anytime the trade is modified. Anyway, it can be extremely handy to see the magic number of a trade in the MetaTrader platform. So by default, VTS sets the name of the EA and the magic number into the comment parameter. This way, you can visually see how your trades were opened in the MT platform.
Here is an image of an open trade in the Trade tab:. The VTS function fnGetOrderInfo is used to get the magic number, or many other values, from an open trade. See this link on how to use fnGetOrderInfo and the different values you can get from the function. The fnGetOrderInfo generates all of the MQL code for the order selection loop and returns the requested value.
Your email address will not be published. Your Website. Save my name, email, and website in this browser for the next time I comment. Leave this field empty. Education MetaTrader Magic Number by David Williams — October 11, MetaTrader Magic Number A magic number is used to identify a trade. The OrderSend function can be difficult to configure OrderSend has many parameters, one of them is named magic. cmd — Operation type. It can be any of the Trade operation enumeration.
volume — Number of lots. price — Preferred price of the trade. slippage — Maximum price slippage for buy or sell orders. stoploss — Stop loss level. takeprofit — Take profit level. comment — Order comment text. Last part of the comment may be changed by server. magic — Order magic number.
Law enforcement can utitlize the number to determine who owns the car. Magic numbers function like the license plates for expert advisors. When an expert advisor detects an open trade, called a ticket, it repeatedly asks for its magic number.
If the magic number of the ticket is identical to the number that the expert advisor expects, then it knows to manage the position. Magic numbers are helpful, particularly when you want to trade multiple time frames of the same forex pair. Traders often use settings that differ from those on M1 prices versus those that they would use on the daily chart. If they used the Expert advisor with the same magic number on all different time frames, the result would be chaos.
The expert advisor would open and close positions with no rhyme or reason.
Technological advancement has proven to be one of the contributing factors to the increase in trading. Since everything can be done online, many traders and brokers are giving trading a chance. You can remotely trade from any part of the world. Online trading had simplified the process, to begin with, but the coming up of the MetaTrader platform made trading even better.
As a platform, the MetaTrader has simplified trading by eliminating emotions. The expert magic number represents the MetaTrader concept to track open positions generated by the Expert Advisor. Using an expert magic number, EA can mark each position by number and distinguish the opened trades versus trades that did not open.
The expert magic number can be any unique number, and they are license plates for EAs. The MT4 platform generates a magic number employed by Expert Advisors EA to track open positions. This allows the EA to manage trades in a better way. Still, confused? The latter allows the authority to identify the state from where the vehicle has come from and know about the exact individual who owns it. The expert magic number does a similar job. It helps the EA differentiate between the trades that have been opened by it to the ones that it has still not opened.
This analysis allows the EA to manage the account in a better way. Many traders use the same Forex pair to trade across multiply timeframes. You will need two EAs to track these two different time frames. Here, the first EA will be trend following as it is tracking the one-hour chart and the other one is scalping as it is chasing a minuet chart. It is clear from the example that you should manage trades differently when you are using different timelines.
The above example is a testimony that, along with your general stop-loss exits and takes profit, you need to run channel stops for one trade and trailing stops for the other. In such cases, you will end up in a chaotic mess if you use only the currency pair to identify different trades because the currency pair is standard across the channels. It would help if you had something that stands apart. Your bulletproof savior in the above situation is a MetaTrader magic number.
The platform assigns a specific number to each trade as soon as it is opened. The EA will now follow these unique numbers instead of the currency pair to track the trade.
For example, the trend-following EA may follow the magic number, while the other EA might chase the magic number Thus, we can conclude that you can use these magic numbers to separate orders across different timeframes and strategies, especially when using the same currency pair.
It makes EA more operational by allowing it to use its potential. The magic number for the trades that are opened manually is zero, but the trades that are opened on the MT4 platform, using an EA, are assigned unique numbers that can range from 0 to These numbers can help you in finding open trades. The MQL language uses OrderSend to open a trade. OrderSend is a function that is based on multiple parameters, the magic parameter being one of them.
When a trade is opened by an EA using this function, a magic number is automatically assigned to the trade, known as OrderMagicNumber. The more you use it, the more familiar you get with it. All you need to do us to run OrderMagicNumber in an order selection loop. Select a trade by suing OrderSelect. This will allow you to run the OrderMagicNumber for your chosen trade. It is a fairly easy technique to understand. For example:. MT4 is a user-friendly platform that various brokers offer to their clients.
Its codes are not as complicated as compared to other platforms. Yes, it does take some time to get used to it, but such is the case with anything new that you use. Along with EAs and magic numbers, it has various other features to maximize your profits. Privacy Policy. Home Choose a broker Best Forex Brokers Learn trading Affiliate Contact About us. Home » Platforms » Metatrader » Expert Magic Number in MT4. What is the MT4 Expert Magic Number? Author Recent Posts. Trader since Currently work for several prop trading companies.
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02/12/ · Magic number Forex - The Expert Advisors is a free lecture from Algorithmic day trading – Top 10 USDJPY Expert Advisors. Enroll here: https://eaforexacademy 11/10/ · A magic number is used to identify a trade. When a trade is opened by an Expert Advisor, a magic number can be associated with the trade. The MQL function used to open a 29/03/ · Step one - how many open trades with the specified MagicNumber Step two - if less than allowed then place next order a MagicNumber of -1 means all trades open regardless " 04/12/ · The EA must not exceed Max Total (A=B), but it also must not exceed TotalforModuleA and B respectively. For example, if the MaxTotal is 2, and the ModuleA and B A magic number is an identifier for the orders. Basically, when you open an order in MetaTrader 4 using MQL4 code, you can associate the order to a number. The same magic number can 31/03/ · Magic number is intended to be used for trade identification. Implementation varies. It is set when the trade is opened by an EA with the OrderSend() command. Example ... read more
value :"" ; if document. Using two different magic numbers will allow the expert advisors to work only on their own trades. It is clear from the example that you should manage trades differently when you are using different timelines. It makes EA more operational by allowing it to use its potential. Save my name, email, and website in this browser for the next time I comment.
Note, it is on the advanced tab: Magic Number Parameter on fnOpenOrder OrderSened Since you can set the magic parameter on the VTS fnOpenOrder function to any value, not just the MagicNumber variable, the capability to utilize a magic number within VTS is very flexible. It can be any of the Trade operation enumeration. Magic numbers act like the license plates for EAs. The magic number of a manually opened trade is 0. Erman Ardianto. What is magic number in forex ea is an MQL function named OrderMagicNumber that will get the magic number of a trade.